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- The trio bought bitcoins worth KSh5 billion (US$43 million) in the UAE, the United States and several other European countries, including at Kenya’s crypto exchange platform, BitPesa
- The three Nigerians were linked to Ksh25.6 billion (US$220 million) moved into Kenya between October and November 2020
- The Nigerians involved in the scandal are Mr Olubunmi Akinyemiju, Mr Eghosasere Nehikhare and Mr Olufemi Olukunmi Demuren
- From the US-based exchange Binance, the three bought cryptocurrencies worth $36,353,728 (Sh4.2 billion). They also went ahead to buy bitcoins worth $7,246,582 (Sh839.5 million) from Busha
On April 27, 2022, a report of a multi-billion dollar money-laundering syndicate surfaced from the asset recovery agency drawn from the financial crime and investigation unit, involving top companies and directors from both Nigeria and Kenya.
The culprits are said to have used bitcoin to secrete their transactions. According to a statement filed by European investigators, the Nigerians involved in the …
The rhino horn has become “gold” as it is rumoured to have medicinal properties. The horn is also used as a status symbol to show success and wealth in some African and Asian countries.
Rhino horns are used to reduce hangovers and high fever, detoxify the body, and as a form of beauty through jewellery making.
In 2020, the northern white rhino went extinct as the last remaining male died in Sudan and the two remaining females were too old to reproduce.…
SportPesa was mulling floating an IPO at the Nairobi Stock Exchange (NSE) in 2018 but it has not happened…
Wealthy Kenyans are hoarding nearly two times Kenya’s 2018-19 Sh3 trillion (USD 30 billion) budget representing about 65 per cent of Kenya’s GDP.…
Mobile subscription in the country grew 6.2 per cent in the second quarter of 2018
A proliferation of mobile applications on popular online stores is exposing Kenyans to increased cyber attacks and fraud, a latest sector statistics report by the Communications Authority of Kenya (CA) has revealed.
This comes in the wake of a fast growing mobile subscription in the country which grew 6.2 per cent in the second quarter of 2018(October-December).
According to CA’s sector statistics report for the financial year 2018-2019, mobile subscriptions in Q2 grew to 49.5 million up from 46.6 million in the first quarter(July-September).
Data subscription during the period increased to 45.7 million from 42.2 million in the previous quarter, meaning Kenyans are increasingly getting connected to the internet.
This has created a field day for fraudsters who are taking advantage of innocent members of the public with little knowledge on cyber attacks.
The report …